Wow, closed at $4.25. Now if it'll just not look back at that $4 mark and keep going. It's been a good day folks! Now time for a drink and a stogie and pretend I made a whole lot more than I did! Although, If I could do this once a week, I'd just move my trading desk to my new boat!!!!
congrats Trad'nUp. hopefully we dont get kicked in the ass this weekend by some crazy news regarding WM. i am feeling good though. today was my 2nd best day ever in the market.
Bro what you are asking for is a cozy blanket to cuddle..you want reassurance so bad so it will make you feel better - again YOU DO NOT HAVE A PLAN
I did answer him Ivan , he didn't like the asnwer http://elitetrader.com/vb/showthread.php?s=&threadid=137390
Thinking about a long trade here, but want to assess the risk. Looks like a major event will happen in the next week or so, but how likely is it that the stock would end up lower than the current level? Paulson and company seem determined to avoid another market plunge, and they saw the market's poor reaction when AIG's stock tanked on the bailout. So will Paulson insist that any buyout of WM be at a premium?
I also have some shares in WM. I got in at 2.50, and I believe that the bidders for the sale were too skittish because of the unknown amount of bad debt on WM's books. The government will clear all that up, but it will take some time. After it's cleared up, a sale will proceed or they may attempt to raise more capital and keep the business going. Either way, I am going to hold on to my shares.
This is what i suggest you do. Sell all your shares in WM and collect your profit, then take 1k to 2k and buy Jan 10 12.50 calls. The ask price is .40 right now which means you will get about 25 options per 1k. Then dont even look at until near the end of 2009. By them WM will be back at 40 bucks per share and you will pocket around 70k-140k for your little wager. or heck...if you dont want to put that much up, just do 200 bucks and walk away with 14k in a little over a year.